Transneft Looks to Redirect Oil From Attacked Baltic Ports
Russia's oil pipeline monopoly Transneft will try to redirect oil exports from the Baltic Sea ports, damaged by drone attacks, Interfax news agency reported on Thursday, citing the head of the company.According to Reuters calculations based on market data, at least 40% of Russia's oil export capacity is at a halt following Ukrainian drone attacks, a disputed attack on a major pipeline and the seizure of tankers.Ukrainian drones attacked this week the Baltic Sea ports of Primorsk and Ust-Luga, major hubs for Russian oil exports…
Palm gains nearly 2% due to stronger Chicago crude oil, soyoil and export data
Malaysian palm oil futures rose nearly 2% Thursday after two sessions of losses. Stronger Chicago soyoil and crude 'oil prices, along with robust export data, supported the'market. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange closed up 85 Ringgit or 1.89% at 4,581 Ringgit ($1,147.55). Anilkumar Bagani, head of commodity research at Sunvin Group in Mumbai, said that crude palm oil futures traded sharply higher as a result of a resurgence in energy prices and gains in Chicago soyoil. The strong palm oil outlook also helped.
Palm prices surge on higher Chicago soyoil and crude oil prices, according to export data
The 'Malaysian Palm Oil Futures' gained over 1% on Thursday after two sessions in which they had lost ground. This was aided by a stronger Chicago Soyoil and Crude Oil prices, as well as 'robust export data. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for June delivery was up 74 Ringgit or 1.65% to 4,570 Ringgit ($1,145.08). Anilkumar bagani, head of commodity research at Sunvin Group in Mumbai, said that crude palm oil futures had been trading strongly higher. This was due to gains in Chicago soyoil as well as a rebound?in energy prices.
Oil Prices Fall 4% as US Proposes Iran Peace Plan
Oil prices slid about 4% on Wednesday on reports that the U.S. had sent Iran a 15-point proposal aimed at ending the war, prompting talk of progress toward a ceasefire.Brent futures fell 3.96, or 3.8%, to $100.53 a barrel at 10:41 a.m. EDT (1441 GMT), while U.S. West Texas Intermediate (WTI) crude fell $3.57, or 3.9%, to $88.78.Pakistan has delivered a U.S. proposal to Iran, and either Pakistan or Turkey could be a venue for discussions to de-escalate the war, a senior Iranian official told Reuters on Wednesday.Iran has denied that direct talks had taken place and an Iranian military spokesman said the U.S.
Palm oil closes higher as Chicago soyoil strength and crude oil rally boost prices
Malaysian palm futures closed higher on Wednesday, supported both by the stronger soyoil market in Chicago and rising crude oil prices. At the close, the benchmark 'palm oil contract' for May delivery at the?Bursa?Malaysia Derivatives Exchange rose 71 ringgit (1.6%), to 4,499 Ringgit ($1,149.76). The contract had dropped to 4,395 Ringgit earlier in day. Soyoil traded on the Chicago Board of Trade increased by 3.11%. Dalian's most active soyoil contract gained 0.68%, after falling 0.19% in the morning. Its palm oil contract also added 0.51% following a 0.25% drop.
Iran War causes major disruptions in oil and gas
U.S. and Israeli war against Iran, and Tehran's attacks upon Gulf neighbours has caused oil and gas?exports to be disrupted and production stopped. Sources say that Saudi Aramco, the world's largest oil producer, cut its output Monday. The Strait of Hormuz is the most important oil artery in the world, and it handles 20% of the global oil supply. Two sources reported on Monday that Aramco had begun reducing production at two of its fields. Saudi Arabia is the top oil exporter in the world. In February, it produced roughly 10.3 million barrels of crude oil per day.
Source: Russia is ready to divert oil from Middle East to India due to Middle East conflict disrupting flows.
An 'industry source' with direct knowledge said that Russia was ready to divert oil from the Middle East to India in order to counter supply disruptions. About 9.5 million barrels of Russian crude are currently on vessels near Indian waters, and could arrive within weeks. Sources declined to reveal the original destination of the non-Russian cargoes, but they said that they could be delivered to India in a matter of weeks. This would provide refiners with immediate relief. India is susceptible to supply shocks. Crude stocks cover only 25 days' worth of demand.
Iran threatens to attack any vessel trying to cross the Strait of Hormuz
Iranian media reported that a senior Revolutionary Guards official told them on Monday, "the Strait of Hormuz was closed" and that Iran would fire at any ships trying to pass. This is Iran's?most explicit warning since it told ships on Saturday that?it would?close the export route. The move threatens to choke off a fifth global oil flow and send crude prices sharply up. The Strait of Hormuz is closed. The Revolutionary Guards will burn down any ships that try to pass. This was stated by Ebrahim Jbari, senior advisor to the commander-in chief of the Guards.
Palm set to decline monthly due to sluggish ringgit and exports.
Malaysian palm futures rebounded on Friday, tracking gains in Chicago soybean oil, but were set to suffer their largest monthly drop in 10 years due to sluggish shipments and a stronger ringgit. After a 1% decline on Thursday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange rose 17 ringgit or 0.42% to 4,022 Ringgit ($1,035.80). The contract is on track to have its biggest monthly drop since April 2025. Dalian's soyoil contract, which is the most active in this session, was unchanged after it gained as much as 0.66 % earlier. Palm oil fell by 0.48%.
Palmetto slips but still posts weekly gains to end two-week decline
Malaysian palm futures ended lower on Friday due to weaker soyoil and concerns about overproduction. However, the contract posted a weekly gain after two consecutive weeks of losses. At the close, the benchmark 'palm oil' contract for May delivery at Bursa Malaysia derivatives Exchange fell 27 ringgit or 0.66% to 4,090 Ringgit ($1,048.72). This week, the contract increased by 0.99%. Anilkumar bagani, commodity researcher at Mumbai-based Sunvin Group, says that the market will be focusing on palm oil export data from February 1-20, as well as production data including full-month estimations.
Palm slips due to weak soyoil but is still on track to end its two-week slide
Malaysian palm futures fell on Friday due to weaker soyoil, and concerns over the potential for an excess of production. Traders are awaiting export data as they await further clues. By midday, the benchmark 'palm oil contract' for a May delivery on Bursa Malaysia Derivatives Exchange had fallen 12 ringgit or 0.29% to 4,105 Ringgit ($1,050.95) per metric ton. The contract is on track to end a two-week losing run after gaining 2% this week. Anilkumar bagani, commodity researcher at Mumbai-based Sunvin Group, says that the market will be focusing on palm oil export data from February 1-20…
Shell Nigeria cuts oil exports after maintenance is done on the Bonga vessel
Shell Nigeria Exploration and Production Company announced on Sunday that it has started planned maintenance on its Bonga oil vessel. This'move' will temporarily reduce 'Nigeria’s oil export capacity by 225,000 barrels a day, but could prolong the asset's life. The Bonga Floating Production, Storage and Offloading Unit, Nigeria's First Deepwater?Project, is located 120 km off shore in water depths of over?1,000 meters. It can produce up to 150 millions standard?cubic foot of gas each day. Ronald Adams, SNEPCo's Managing Director…
Kazakhstan's main export pipeline returns to full capacity after mooring points repaired - CPC
The Caspian Pipeline Consortium, Kazakhstan's main oil export pipeline, returned to full capacity on Sunday at its terminalon the Russian Black Sea Coast after maintenance was completed at one mooring point and a tanker loaded with crude. Kazakhstan, the 12th largest oil producer in the world, has been facing a number of challenges in recent months. These include an attack by a Ukrainian drone on the Caspian Pipeline Consortium (CPC) in late November, which caused the pipeline to pump at below capacity, and a shutdown in production earlier this month at the vast Tengiz field.
Kazakhstan CPC Oil Exports Struggle After Tengiz Field Shutdown
Kazakhstan's CPC oil exports could remain restricted even as extensive maintenance on its primary oil export route wraps up, sources said on Wednesday, with force majeure declared at the country's largest oilfield, Tengiz, following a fire.The CPC terminal, which handles about 1.5% of global oil supply and 80% of Kazakhstan's crude exports, has been operating below capacity since mid-November.Maintenance work on Single Point Mooring-3 (SPM-3) at CPC's Russian Black Sea terminal is in its final stages, CPC said on Wednesday.SPM-3 could resume loadings as early as Friday, following two months of repairs, according to trading sources.
Minister: Indonesian B50 Biodiesel launch is subject to crude oil and CPO prices
A senior official stated on Tuesday that the timing of Indonesia's B50 biodiesel mandate - which blends 50% palm oil with diesel - will be subject to the difference in price between crude oil & crude palm oil. Indonesia, which is the largest palm oil producer in the world, had previously set the goal to "start the B50 mandate" by the second half 2026. The current mandate is 40% blend. The palm oil export levies are used to subsidise the country's biodiesel program. The amount of the'subsidy' depends on the difference in crude oil prices and crude palm oil. The president has instructed that B40 will be maintained this year.
Indonesia will increase palm oil export tax if it abandons its plan to introduce B50 Biodiesel in this year.
Yuliot Tajung, the deputy energy minister, said that Indonesia had scrapped plans to raise the mandatory biodiesel mix to 50% in 2019. Instead, it will maintain the current blend of 40% palm oil based fuel and 60% diesel. Indonesian energy minister had previously planned to implement the 50-50 mixture of palm oil-based diesel and fuel in the second half of this year to reduce the country's dependency on imported diesel. Eniya. Listiani. Dewi, an official with the energy ministry, told reporters that the decision was made to maintain B40 fuels this year as the government reviewed the timeline needed to complete the trials of B50,.
Indonesia will increase palm oil export tax if it abandons its plan to introduce B50 Biodiesel in this year.
Indonesia has scrapped plans to introduce a mandatory B50 palm oil-based fuel this year, and will instead stick with B40 due to "funding and technical concerns", government officials announced on Wednesday. This eases concerns about strains on palm oil supplies globally. Indonesia had planned to launch B50, a blend of palm oil-based 50% biodiesel with 50% conventional diesel in the second half this year. The B40 blend, which is 40% palm oil-based, will continue to be the standard. Biodiesel mandates in Indonesia…
VEGOILS - Palm rises again for a second meeting on Indonesia's plan to raise the levy
The price of Malaysian palm oils futures increased for the second session in a row on Thursday. This was largely due to Indonesia's plans to increase?palm export levies, but pressure from rising stock expectations?limited gains. The benchmark palm-oil contract for March delivery on the Bursa Malaysia Derivatives exchange gained 9 ringgit or 0.22% to 4,042 Ringgit ($995.57) a metric ton as of closing. Eniya Dewi, an official from the energy ministry, told reporters that Indonesia would likely increase its palm-oil export levy in order to support biodiesel production, citing a lack of funds.
Sources say that Chevron Vitol Trafigura are all competing to control Venezuelan oil imports.
Sources familiar with the situation say that Chevron, Vitol, Trafigura and other companies are competing to get deals from the U.S. Government to export crude oil from Venezuela. Venezuelan officials are trying to control oil sales in the United States. This competition is a reflection of the desire for many oil companies to gain access to Venezuela's crude oil stocks and production. Donald Trump, the U.S. president, has demanded Venezuela grant the United States access to the oil sector. This comes just days after the U.S. seized the South American nation's President Nicolas Maduro. U.S.
Malaysian palm oil set to gain weekly on rival oils with Indonesia levied plan
Malaysian palm oils futures were up for a third session on Friday, and they are expected to rise weekly. This is due to the strength of rival edible oils on the Dalian and Chicago Exchanges as well as Indonesia's plans to increase its palm oil export tax. By midday, the benchmark March palm oil contract on the Bursa Derivatives Exchange had gained 35 ringgit or 0.87% to 4,078 Ringgit ($1,003.94) per metric ton. This week, the contract has gained 2.18%. Anilkumar Bagani is the commodity research director at Mumbai-based Sunvin Group.